Coinbase CEO Brian Armstrong stated in an interview with Axios on Wednesday that the company has no intention of delisting cryptocurrencies that are alleged to be securities by the Securities and Exchange Commission (SEC). Armstrong’s remarks were made at the Piper Sandler Global Exchange and Fintech Conference, positioning Coinbase as a key player in a potential lengthy legal battle that could have far-reaching implications for the entire crypto industry.
When asked if Coinbase would cease listing or reconsider the listing of tokens mentioned in the SEC’s lawsuit, Armstrong firmly responded, “No.” He further emphasized that Coinbase would continue its operations as usual, allowing the trading of those assets until a court ruling is made. Armstrong clarified that Coinbase does occasionally delist tokens as part of its normal listing standards.
In the lawsuit filed by the SEC against Coinbase, the regulatory body alleges that at least 13 tokens listed on the platform are securities. Some of the tokens mentioned include solana (SOL), cardano (ADA), polygon (MATIC), and filecoin (FIL).
It is worth noting that Binance.US, which was sued by the SEC a day earlier, temporarily halted over-the-counter trading and removed several trading pairs from its platform. The SEC also sued Binance and its CEO, Changpeng Zhao, for securities violations.
This situation highlights a broader issue: securities face more stringent regulations compared to commodities. Industry insiders express concerns that implementing securities regulations could stifle innovation in the crypto sector.
